Tenet Healthcare Q2 2023 Earnings Report
Key Takeaways
Tenet Healthcare reported a net income of $123 million, or $1.15 per diluted share, and an adjusted diluted earnings per share of $1.44 for Q2 2023. The company's ambulatory care segment saw a 16.4% increase in Adjusted EBITDA, and same-facility system-wide surgical cases increased by 6.6%.
Net income from continuing operations available to common shareholders was $123 million, or $1.15 per diluted share.
Adjusted diluted earnings per share from continuing operations was $1.44.
Consolidated Adjusted EBITDA was $843 million, including $8 million of grant income.
Ambulatory Care Adjusted EBITDA increased 16.4% over second quarter 2022, excluding grant income.
Tenet Healthcare
Tenet Healthcare
Tenet Healthcare Revenue by Segment
Forward Guidance
Tenet Healthcare's Outlook for full year 2023 includes net operating revenues between $20.1 billion and $20.5 billion, and Adjusted EBITDA between $3.310 billion and $3.460 billion.
Positive Outlook
- Net operating revenues are expected to be in the range of $20,100 million to $20,500 million.
- Income from continuing operations available to Tenet common stockholders are expected to be in the range of $447 million to $582 million.
- Adjusted EBITDA is expected to be in the range of $3,310 million to $3,460 million.
- Diluted income per common share from continuing operations is expected to be $4.19 to $5.48.
- Adjusted diluted earnings per share from continuing operations is expected to be $5.18 to $6.03.
Revenue & Expenses
Visualization of income flow from segment revenue to net income